Are there rules regarding specifying an effective date/time for mergers?
Yes. The effective date of a merger must be within thirty days of the filing date. The effective date can be on a weekend or holiday, as long as it follows the filing date.
The effective time of the merger must be based on Hawaiian Standard Time (HST), even if the merger involves a corporation from another state. Use of the phrase “close of business” on a specific date is not acceptable.